Max Life Insurance: Max Life has started simple pension plan, understand about it in 5 points
There are two variants in the pension plan of Max Life. First single life and second joint life annuity. Single life annuity means that the fixed income starts as soon as the policy is taken, which the policyholder gets for the whole life.
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| Max Life Insurance |
Max Life Insurance Company Limited has launched Max Life Saral Pension Plan. This is a non linked, immediate annuity plan. This means that we have to pay a lumpsum amount while buying the plan. Later on a fixed tenure for the whole life fixed payment is available.
Saral Pension Plan is simple and very easy to take, hence the name of the plan is also Saral Pension Plan.
After purchasing this plan, there is a fixed income in the form of pension later. This plan is designed in such a way that after retirement, the person taking the policy keeps getting a specific amount.
This plan has been prepared keeping in mind that there should be no problem in spending before and after retirement. This plan provides guaranteed income to the person taking the plan.
Max Life Insurance Plan Details
1-Two variants of pension plan
Max Life has said about this plan, this plan has been launched at a time when most of the people of the society are inclined towards financial security in future.
People want to be confident about their financial arrangements in future. Saral Pension Plans have been launched by the company in two variants.
One in which a single person can also take a plan and get pension. Second, joint plan in which two people will take together and both will get pension.
After death, the return money goes to the nominee.
2-instant pension plan
Saral pension plan is an immediate annuity plan. Of course, this is an immediate scheme. As soon as the policyholder takes the policy, his pension will start.
You can also call Immediate Annuity as Immediate Pension. Now it will depend on you whether you want pension every month or quarter, half yearly or annually.
If you want every month, then you have to choose the monthly option. Similarly, the facility to choose the option for quarterly, half yearly and yearly will be given.
The mode you choose, the pension will start accordingly. If you choose monthly, then pension will start after one month, after three months in quarter, after six months in half yearly and after one year in yearly.
3-Who can take
The minimum age to take this pension scheme is 40 years. That is, any person (female or man) of 40 years can take it.
A person of maximum age of 80 years can take this scheme. People from 40 years to 80 years can take advantage of this scheme.
Under this scheme, you can take pension every month, on three months, on six months or for a year. The amount of minimum investment will be decided on the basis of minimum pension.
4- How to get pension
There are two variants in the pension plan of Max Life. First single life and second joint life annuity.
Single life annuity means that the fixed income starts as soon as the policy is taken, which the policyholder gets for the whole life.
As long as the pensioners are alive, they will continue to get pension.
After that the base premium he had paid for taking the policy will be returned to his nominee. Tax deducted in this is not given back.
The second variant is given as a joint life. In this, the pension is linked to both the husband and wife.
In this, the spouse, whoever lives for a longer period, continues to get pension.
The amount of pension that any one person will get while alive, the same pension amount will be given to his spouse when he is not alive.
When both are no more in this world, then the nominee is given the base price that was paid at the time of taking the policy.
5-When can you surrender?
In this plan, the customer can choose the mode of pension according to his own. Every month, quarter, half yearly or annually.
The facility of surrendering is also available in this product. If you want, you can surrender it in the middle.
If the policyholder's health becomes seriously ill, the wife or child of the person taking the plan suffers a serious illness, then the policy holder can withdraw 95 percent of the plan (of the purchase price).
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